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Sports betting basics
Sports bets are most commonly placed on the outcome of
a single event or game. In virtually all contests, there is a favorite and
an underdog.
In order to make wagering more even, the oddsmaker
draws up an odds line, or the odds, such that you can bet on the
probability of a competitor's win.
For example, former world heavyweight champion Mike
Tyson steps into the boxing ring to square off against "Rocky" star
Sylvester Stallone. In this case, Tyson is obviously the favorite and
Stallone the underdog.
The oddsmaker would then post the odds that probably
would look something like this:
Tyson = 1 to 9 (noted as 1/9)
Stallone = 7 to 1 (noted as 7/1)
To win $1 on Tyson, you must wager $9. If he wins,
you get $10 back, the $9 you bet plus the $1 you won.
On the other hand, to win $7 on Stallone, you need
only wager $1. If Stallone wins, you get $8 back, the $1 you bet plus the
$7 you won.
If a moneyline is posted, the lines may appear as
follows:
Tyson -120
Stallone +240
By clicking on either -120 or +240, you are betting
on who you think will win the match. To win $1 on Tyson, you must wager
$1.20. If he wins, you get $2.20 back, the $1.20 you bet plus the $1 you
won. If you bet $1 on Stallone and he wins, you get $3.40 back, the $1 you
bet plus the $2.40 you won.
If you want to bet on a point spread when teams are
involved, you may have the choice of the following:
New York -3
Philadelphia +3
If you click on -3 for New York, they must win by
more than 3 points for you to win your bet. If you click on +3
Philadelphia, they may lose by 2 points or win outright for you to win your
bet. If the +/- 3 adjustment results in a tie, the wager is push and you
will get your money back. Games featuring 1/2 points will never push and
will always end as a win or loss.
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